May 072012
The markets had a large selloff overnight due to reactions to Greek and French elections. However by the time the US session started, the market had climbed back near Friday’s close. I wrote in chat this morning “Given no significant US news today, I expect the market to find an area to grind.” We got a lot of ES grinding; first in the 59.25 level and then the 68 level. Any short trade from the 59.25 level would have worked for most targets. Using order flow, below you’ll find
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